Geriatric
Population t Propel Growth in the Global Ophthalmic Knives Market over the
Forecast Period
By 2050, 2 billion people
will mark the age bracket of geriatrics – 60 and over. This is in direct
contrast with a mere 900 million in 2015. As per a study, one in every
six people will be aged 65 and above – one in every four in North America and
Europe. It is interesting to note here that in 2018, the world witnesses
making of history in terms of demographic shift. This year, for the first time
in the history of mankind, there were more people aged 65 and above that those
people aged five and below.
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As this age group os
prone to cataracts, glaucoma, vitreoretinal, and other refractive eye errors.
This leads to much growth in the global ophthalmic knives market. This is
further fuelled by technological advancements in the product.
North America to
Hold Lion’s Share over the Forecast Period
2018 was dominated by
North America and the trend is set to continue over the forecast period owing
to steep increase in geriatric population in the region and high level of
technology adoption in healthcare. Besides, a high disposable income supports
the growth of market in the region. Moreover, demand for minimally invasive
surgeries and rise in incidence of vision impairment will lead to growth in the
market heavily.
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Another region that
players will set eye on is the Asia Pacific (APAC) region that will create a
plethora of untapped growth opportunities in the market, owing to rising
disposable incomes, improvement in awareness levels and government efforts to
improve healthcare outcomes. The growth would be notable in India and China in
particular owing to a large patient pool and increases healthcare expenditure,
leading to a significant CAGR over the forecast period.
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